News Release

Singapore

Opportunity to acquire a row of 3 adjoining shop houses within Little India Conservation Area

2014-06-16T16:00:00Z

JLL appointed exclusive agent for the sale of 2,4 and 6 Dunlop Street by Expression of Interest (EOI) closing on 10 July, 2014, 3pm.

​​Singapore, 16 June 2014 - JLL is the exclusive marketing agent for the sale of 2,4,6 Dunlop Street, within the historical Little India Conservation Area.

The properties consist of 3 adjoining shop houses with a combined site area of approximately 2,475 sq ft and a gross floor area of approximately 6,000 sq ft.

The 999-year properties are zoned for commercial use and are under the conservation area. They are just two minutes' walk to the future Jalan Besar MRT station, which is expected to be ready in 2017. The upcoming Rochor MRT station, located next to Sim Lim Square, is also within walking distance. Various hotels surround the properties, such as Hotel 81 Rochor / Dickson, Wonderlust Hotel, Moon @ 23 Dickson and various hostels.

As the shophouses are located in the Little India precinct, the new owner will be able to tap on business from the local Indian community, and from foreign workers during weekends as well as leisure and business tourists in this heritage area.

The property has been configured for the current owner's own use and will be sold with vacant possession. The corner shop house is in its original condition, while two of the other shop houses have had their inter-partition walls knocked down to create a huge seamless space.

The surrounding area also boasts an eclectic mix of trades from backpacker hostels, F&B, electronics & jewellery shops.

Said Nicholas Ng, the local director of investment properties at JLL: "Due to the current restrictions in the local residential market, many investors have started to look at other options for investment. This opportunity is expected to generate keen interest from a wide range of buyers including investors, foreigners, private funds, private individuals and end-users who are in F&B, retail, IT, and other industries that can operate and capitalise on the heavy human traffic in Little India. These properties are also commercially zoned and not subject to the Additional Buyer's Stamp Duty (ABSD) and Seller's Stamp Duty (SSD)."

Mr Ng is optimistic about the demand for the row of shop house, citing: "There is always a strong interest from buyers when shop houses have a good flow of human traffic that is close to public transportation, have 999 years tenure and are reasonably priced. "

The indicative price is S$9.5 million for the three shop houses. The Expression of Interest will close at 3pm on Thursday 10 July 2014.

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Notes to Editors:

A high resolution image of the properties is available for download here.

View the location of the properties in relation to the new MRT stations here.